This is the second consecutive month unit sales have hit an all-time high.
It’s also the first time in two years that the number of new listings put on the market has exceeded the 1,000 unit mark.
REALTORS® listed 1,271 residential properties in K-W and area this May, a 38.6 per cent increase compared to May of 2016, and a 29 per cent increase compared to the previous month.
The increase in homes available for purchase means that there are more homes on the market in Waterloo Region and area for Buyers to choose from. At the same time, competition remains strong as out-of-area Buyers continue to be attracted by the relatively inexpensive inventory. The average sale price of a single-detached home in this area at $594,047, just over half the cost of the average single-detached home in Toronto.
While more homes were listed in May, it continues to be a seller’s market in Waterloo region and across the Greater Golden Horseshoe (GGH) as inventories remain tight at near or less than one month of inventory.
For more on the official report on April’s K-W Market Update including statistics from Wellesley, Wilmot and Woolwich Townships, click here.